Trican Announces Marcellus Shale Expansion
CALGARY, ALBERTA–(Marketwire – Jul 28, 2010) – Trican Well Service Ltd. (TSX:TCW) (“Trican” or “the Company”) is gratified to make known that the U.S. subsidiary, Trican Well Service, L.P. (“the US Operations”), has entered in to a two-year smallest joining stipulate for the sustenance of fracturing services to a vital U.S. patron handling in the Marcellus Shale play. This work joining is understanding of the not prolonged ago voiced $102 million collateral bill enlarge with work underneath the stipulate approaching to embark early in the 2010 fourth quarter. The Marcellus Shale fool around is a judicious preference for geographic enlargement as it is a large, low price and flourishing marketplace on condition that Trican with an event to deliver the “EcoClean” fracturing liquid record in most environmentally supportive areas via the basin. By the finish of 2010, we expect we estimate 60% of the US Operations 350,000 horsepower will be committed to prolonged tenure work arrangements as a outcome of this stipulate total with alternative prolonged tenure patron commitments.
Headquartered in Calgary, Alberta, Trican has operations in Canada, Russia, the US and North Africa. Trican provides a extensive form of specialized products, apparatus and services that have been used during the scrutiny and growth of oil and gas reserves.
Forward-Looking Statements
This request contains statements that consecrate forward-looking statements inside of the definition of germane bonds legislation. These forward-looking statements have been identified by the make use of of conditions and phrases such as “will”, “expected,” “anticipate,” “opportunity,” and alternative identical conditions and phrases. These statements verbalise usually as of the date of this request and we do not commence to publicly refurbish these forward-looking statements solely in suitability with germane bonds laws. These forward-looking statements include, between others:
the expectancy that Trican will deliver its ”EcoClean” fracturing liquid record to the Marcellus Shale fool around market;
the expectation that operations in the Marcellus will commence early in the 2010 fourth quarter; and
the expectation that we estimate 60% of the US Operations 350,000 horsepower will be committed to prolonged tenure customer work arrangements.
Forward-looking statements have been formed on stream expectations, estimates, projections and assumptions, that we hold have been in accord with but that might infer to be improper and thus such forward-looking statements should not be unduly relied upon. In further to alternative factors and assumptions that might be identified in this document, assumptions have been done regarding, between alternative things: attention activity; the ubiquitous fortitude of the mercantile and domestic environment; outcome of marketplace conditions on direct for the Company’s products and services; the capability to acquire competent staff, apparatus and services in a timely and price fit manner; the capability to work the commercial operation in a safe, fit and in outcome manner; the opening and characteristics of assorted commercial operation segments; the outcome of stream plans; the timing and costs of collateral expenditures; destiny oil and healthy gas prices; currency, sell and seductiveness rates; the regulatory horizon per royalties, taxes and environmental counts in the jurisdictions in that the Company operates; and the capability of the Company to successfully marketplace the products and services.
Forward-looking statements have been theme to a series of risks and uncertainties, that could means tangible formula to talk about materially from those anticipated. These risks and uncertainties include: vacillating prices for wanton oil and healthy gas; changes in training activity; ubiquitous tellurian economic, domestic and commercial operation conditions; continue conditions; regulatory changes; the successful exploitation and formation of technology; patron acceptance of technology; success in obtaining released patents; the intensity growth of competing technologies by marketplace competitors; and accessibility of products, competent personnel, production genius and tender materials. In addition, tangible formula could talk about materially from those expected in these forward-looking statements as a outcome of the risk factors set onward underneath the territory entitled “Risk Factors” in the Annual Information Form of the Company antiquated Mar 26, 2010, that is accessible on SEDAR at www.sedar.com.
